Prime brokerage: Deutsche Bank sets up hedge fund consultancy

As part of Deutsche Bank’s recent expansion initiatives for its overall prime brokerage business, the firm has launched a hedge fund consultancy.

Some of the more established prime brokers offer their clients consultancy in the shape of infrastructure advice but Deutsche is planning to go farther, catering to medium-sized and large hedge funds, in addition to start-ups. To head the business, the bank has employed John Budzyna in New York. Budzyna was CEO of hedge fund administrator Olympia Capital Associates, and before that was co-head of the hedge fund practice at Ernst & Young.